If #1 is a brick townhouse or single story style with a shingle roof in good condition (for example) then it might be a better buy than a painted wood, flat tar-roofed bldg with apartments that are over/under. or if one has separately metered everything, and the other doesn't.That sort of stuff can make a big difference that doesn't show up immediately in the math

Its saved me some $ on my rentals, because after I switched to this color i have had to re-paint half as much.

It is a rehab in process, exterior paint scraped, interior, new electrical, new plumbing, new sub floor & drywall hung, no tape..

Since you didn't provide a breakdown on the expense side please remember that stuff happens where you have to paint; call a plumber; replace carpeting; wear and tear inside; insurance; taxes; mortgage interest etc.

As for painting, improvements, pet ownership and the like, you have the same rights as any other homeowner.

Spray paint them into the driveway.

Likely have moisture damage unless it's absolutely bullet proof.

Home Depot has everything you need; Investor tan paint, kitchen cabinets, light fixtures, Decora outlets and switches, Pergo laminate flooring, Berber carpet, 6 panel doors, light fixtures and ceiling fans, etc.

You should expect closer to $40k on a home this size if it needs the cosmetic basics (floor, cabinets, counters, paint, baseboards, hardware, etc)

One unit needs to be re-painted.2.)